The Brooklyn Management Liability policy is specifically tailored to meet the needs of Private Companies, Not-For-Profit Organisations, Partnerships and Associations. With the risks of running a business growing increasingly more relevant we have designed the various policy sections to address the wide range of exposures faced by the SME sector.
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Cover Includes (Key Features):
Management Liability – provides protection for the individual when the Company cannot reimburse the individual. This means that individuals will not be personally out of pocket, funding legal costs, when they are sued in their capacity as an employee, director or officer of the company.
Company Reimbursement – provides reimbursement to the company in the event that an individual has been indemnified by the company. This section ties in with the company’s indemnification provisions in their Constitution.
Company Liability – provides protection for claims made against the entity. Note that this section should not be confused with Company Reimbursement coverage, which does not cover the entity per se. Traditional Directors & Officer policies typically do not provide this cover.
Employment Practice Liability – protection for the individuals and the company for claims involving those frequently occurring employee disputes. With the ongoing changes to workplace legislation it is often confusing for employers to stay on top of their duties and obligations. Employees are more aware than ever of their rights and will not hesitate to make a complaint if they feel they have been unfairly treated. Consider also that a potential employee (someone that you decided not to hire) could bring an action against you for discrimination!
Superannuation Trustees – relevant for companies who have company sponsored staff superannuation funds in the event that a breach by the Trustee occurs.
Fidelity Guarantee – provides protection for the company for loss of money or money equivalents due to any dishonesty or fraudulent act or omission of employees.
Fines and Penalties – provides for individuals in the event they are ordered to pay monetary sums to a regulatory authority.
Crisis Management – provides reimbursement of the costs of a public relations consultant to assist in managing a Crisis Event.
Up to $5,000,000 plus one Reinstatement
Private Companies, Not-For-Profit Organisations, Associations and Partnerships with total revenue less than $50m per annum.
- Financial Institutions
- Heavy Construction
- Property Developers
- Property Valuers
- Property Trusts
- Venture Capital Companies
- Tobacco Manufacturers
- Legal Firms
- Biotechnology Companies
- Public & Private Hospitals